Fulton Financial (NASDAQ:FULT) Releases Earnings Results, Beats Estimates By $0.22 EPS

Fulton Financial (NASDAQ:FULT) issued its quarterly earnings data on Tuesday. The bank reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.22, Yahoo Finance reports. The company had revenue of $334.71 million for the quarter, compared to analyst estimates of $296.38 million. Fulton Financial had a net margin of 18.31% and a return on equity of 11.73%. Fulton Financial’s revenue was up 22.4% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share.

Fulton Financial Trading Down 0.1 %

NASDAQ FULT opened at $18.80 on Wednesday. Fulton Financial has a 12-month low of $11.63 and a 12-month high of $18.92. The company has a fifty day simple moving average of $16.75 and a two-hundred day simple moving average of $16.02. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. The stock has a market cap of $3.42 billion, a P/E ratio of 11.68 and a beta of 0.75.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were paid a dividend of $0.17 per share. The ex-dividend date was Monday, July 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.62%. Fulton Financial’s payout ratio is 42.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Fulton Financial from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 30th. Jefferies Financial Group decreased their price target on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. DA Davidson lifted their price objective on shares of Fulton Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Finally, Stephens raised their target price on shares of Fulton Financial from $15.50 to $17.50 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Fulton Financial currently has an average rating of “Hold” and a consensus price target of $18.40.

About Fulton Financial

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.